Business Unit Financial Manager

SUMMARY:
To manage the financial and administrative functions for the Business Unit in line with Divisional objectives in a Manufacturing Company.

POSITION INFO:

5 years in a similar role Essential

BCom/ Business Administration Degree

CIMA

General Financial Management:

• Provide financial analysis and support to management and all operational areas of the business.
• Manage and comply with internal controls.

Budgets:

• Prepare operational budgets.

Forecasts:

• Review all forecasts.

Financial Pack:

• Review the monthly Business Unit financial pack and identify variances.
• Prepare financial reports and returns (Monthly BU/Plant Financial Pack).

CAPEX:

• Analyse the Divisional capex reports and review the BU/Plant capex reports.

Weekly Sales Report:

• Review weekly sales reports.

General:

• Participate and provide relevant information for board meetings and Divisional monthly or bi-monthly meetings.
• Comply with IFRS.

General Ledger:

• Review balance sheet account reconciliations.
• Review and authorise Journal entries.
• Audits and year-end processes:
• Prepare and plan year-end statutory audit (external and internal) in line with the consolidated audit plan.
• Prepare and review year-end reporting accounting and Tax Packs.
• Follow up and action audit findings.
• Prepare and update corp tax schedules.

Banking:

• Manage banking systems (users, passwords, profiles, etc.).
• Approve all new creditors (local and foreign).
• Release weekly bank transfers (creditors and wages).

Cash Management:

• Source financing to meet budgeted cash-flow requirements.
• Monitor daily cash positions and cash flows to ensure settlement and maximise performance.
• Manage cash flow and working capital.

Forex:

• Manage Forex risk.
• Manage the purchase Foreign Exchange Contracts (FEC''''''''s).
• Review Forex Forecasts.
• Authorise foreign payments.

Costing:

• Make recommendations for the financial recovery on distressed parts.
• Calculate and propose price increases (per Customer for Sales Dept).
• Negotiate and agree price increases with major customers.
• Manage costing department ensuring BOM accuracy and related variances(MUV, PPV’s,stock variances).

CAPEX:

• Perform project appraisals and valuations.
• Review CAPEX spend.

Fixed Assets:

• Reassess useful life and residual value of fixed assets.

Statutory Returns:

• Ensure compliance with the general tax provisions.
• Review statutory returns (VAT, PAYE, SDL, UIF, WCA).
• Prepare and submit Government Incentive Applications

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